Speaking Up for Tough Choices

American Journalism Center ^ | January 14, 2010 | Tilla Bradley

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Speaking Up For Tough Choices

Tilla Bradley, January 14, 2010

There is certainly no better time for the release of former Government Accountability Office (GAO) head David M. Walker’s latest book, Comeback America: Turning the Country around and Restoring Fiscal Responsibility than this. With the national debt at over 12 trillion dollars, America needs more sensible voices like Walker’s to help America stage the comeback to sound financial principles that is so fervently needed.

The GAO is a research arm of the U.S. Congress.

With over 35 years of experience in both the private and public sector, Mr. Walker is well qualified to comment on the financial practices and policies of the U.S. government. As the former Comptroller General and head of the Government Accountability Office, he has firsthand experience analyzing and reporting the federal government’s financial situation. Mr. Walker is currently the president and CEO of the Peter G. Peterson Foundation.

During a speech he gave at the National Press Club’s Newsmakers press conference to promote his new book, Mr. Walker focused on three areas that are in urgent need of reform: policy, operational and political, and offered solutions to the problems that he brought up.

America’s dependence on foreign lenders is one of the greatest problems that Walkers urges rectified. He notes that “What threatens our future are the known structural weaknesses.” He cites the precariousness of the situation by emphasizing that should inflation remain at the historically low level it is currently at, America would still be paying 12% of the budget in interest payments....